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A Look at VCCI-2: Canada’s Venture Capital Catalyst Initiative Version 2

Private Capital Journal | | May 24, 2022

Venture capital program - A Look at VCCI-2:  Canada’s Venture Capital Catalyst Initiative Version 2The Canadian federal government released its Request for Proposals (RFP) for fund-of-funds and fund managers wishing to apply for its Venture Capital Catalyst Initiative-2 (VCCI-2) program in mid-May. This program follows upon the Venture Capital Action Plan (VCAP) of 2013 and the VCCI-1 of 2017. All three versions have had the express purpose of strengthening the Canadian venture capital (VC) industry by injections of public monies in partnership with private capital sources.

See:  Improving the Regulatory Environment for Entrepreneurial Capital Formation: JOBS Act 4.0

VCCI-2

  • VCCI-2 sets out a more ambitious target for attracting private capital than did VCCI-1 in that VCCI-2 requires fund-of-funds applicants under the $350 mm.
  • Stream 1 to secure $3 of capital for every $1 from the federal government.  The financial incentive does not appear as generous as that under VCCI-1 which was a $2.25 to $1 ratio.
  • Private capital remains the first to be paid with contributed capital returned plus 5% preferred return per annum (NB:  VCCI-1 fixed the amount at plus 7% per annum.
  • Requires detailed, intrusive some might find, reporting requirements regarding Diversity, Equity and Inclusion (DEI) measures that are designed to address shortcomings of certain disadvantaged groups, such as women.
  • It is assumed by the government that its own commitment to DEI (i.e., $300 million Equality Fund which was established to invest in womens’ movements in the global South and whose partners with Ottawa include one Schedule 1 bank and one venture capital fund) will not have a negative impact on the private sector’s assessment of the attractiveness of the VCCI-2 from a financial returns perspective.
    • This suite of DEI measures has been substantially expanded from the general call for greater gender parity under VCCI-1. Taken together, achieving the $3 to $1 target leverage ratio may prove difficult, if not unrealistic.

Stepping back and looking at the forest not the trees, VCCI-2 reveals the essential small ‘c’ conservative of federal venture capital support policy going back to Prime Minister Harper’s VCAP nine years ago.  A prime example of the inflexibility of the program design has to do with the list of industries in which successful applicants are forbidden to invest. These include the usual cast of suspects, namely tobacco, alcohol, gambling, pornography and weapons.

See:  Decentralizing Venture Capital: DAO

VCCI-2 is also a very big “L” Liberal entity that strongly reflects the ethos of the current federal government. Of course, it has long been criticized for neglecting National Defense and has been the subject of intense criticism on the procurement front and so the prohibition against investing in weapons firms under the VCCI-2 seems to provide further evidence of Ottawa’s reluctance in dealing with military hardware. That ethos extends to what it calls DEI which is a very important component of VCCI-2 and even includes a small $50 million amount for five to ten managers in this particular space. The political risk to the fund of funds, their LP’s and their investee companies and funds that choose to sign on to the VCCI-2 is that that very participation signals their concurrence with the political priorities of the current regime in Ottawa and in so doing makes less likely any future support program under a different government whose own priorities are likely to differ.

Continue to the full article --> here


NCFA Jan 2018 resize - A Look at VCCI-2:  Canada’s Venture Capital Catalyst Initiative Version 2The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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EBay Scores NFT business with an assist from hockey legend Wayne Gretzky

CNBC | Riley de León | May 23, 2022

Wayne Gretzky NFTs - EBay Scores NFT business with an assist from hockey legend Wayne Gretzky

EBay is getting into NFTs — with an assist from hockey legend Wayne Gretzky.

The company announced Monday that it's launching 13 limited-edition digital collectibles in partnership with Web3 platform OneOf, each of which contains a 3-D animated rendering of Gretzky making one of his signature moves on the ice.

See:  Meta to Start Testing NFTs on Instagram (Facebook and Other Apps To Follow)

During the recent collectibles boom, Gretzky trading cards have set records for hockey memorabilia, with a rookie card selling for $3.75 million in 2021. In 2020, another Gretzky card became the first hockey card to sell for over $1 million.

Wayne Gretzky 'The Great One':

I'm honored to bring this collectible experience to my hockey fans who have followed my career for decades.

Dawn Block, VP Collectibles, Electronics and Home, eBay:

NFTs and blockchain technology are revolutionizing the collectibles space, and are increasingly viewed as an investment opportunity for enthusiasts.  Through our partnership with OneOf [green energy efficient tech], eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere.

The company says each NFT is "priced for the everyday fan" starting at $10 each.

See:  a16z Releases 2022 State of Crypto Report: 5 Key Takeaways

NFT collections have experienced a significant slide in value this month. Some of the more prominent collections, such as Bored Ape Yacht Club and Crypto Punks, saw prices fall 28% and 32%, respectively, according to CREBACO research.

Continue to the full article --> here


NCFA Jan 2018 resize - EBay Scores NFT business with an assist from hockey legend Wayne GretzkyThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Multinational Companies Who left Russia and Ones that Decided to Stay

Website Planet | Tom Read | May 24, 2022

Russia and Ukraine - Multinational Companies Who left Russia and Ones that Decided to StayList of all the companies that decided to leave Russia/stop business in Russia following the war // companies that decided to stay

Multinational companies can no longer ignore social and political issues. Their actions and policies must reflect the values of their customers.

See:  Ways you can help support Ukraine

We’ve compiled the most extensive list of multinational companies and their responses to the invasion. While some companies have been praised for their efforts, others have been justifiably accused of not doing enough.

This article will cover the companies that have left or partially left Russia, and those that stayed. We’ll provide regular updates to keep the information accurate and relevant, so make sure to check back in!

Finance

American Express

  • American Express stated that its payment cards would no longer work with Russian merchants and ATMs in a press release on March 6th.
  • American Express Chairman and Chief Executive Officer Stephen J. Squeri also stated that “cards issued locally in Russia by Russian banks will no longer work outside of the country on the American Express global network.”
  • Squeri said the company has “halted” its relationships with sanctioned Russian banks and added: “We are also suspending all business operations in Belarus.”
  • What’s more, Squeri highlighted American Express’ assistance to affected employees, its $1 million relief donation, and the company’s pledge to match colleague donations.

Goldman Sachs

  • Goldman Sachs was the first major Wall Street bank to cease business operations in Russia.   On March 10th, the financial firm said it was “winding down its business in Russia in compliance with regulatory and licensing requirements.”
  • A company spokesperson said: “We are focused on supporting our clients across the globe in managing or closing out pre-existing obligations in the market and ensuring the well-being of our people.”

ING: 

  • ING Group announced it would not take on new business with Russian entities in a March 2nd press release.
  • The Dutch bank’s Chief Executive, Steven van Rijswijk, said: “We strongly condemn the invasion of Ukraine, the devastating and heart-breaking impact it has on people’s lives, and the threat it poses to international stability and security.”
  • ING has offices and hundreds of employees throughout Russia and Ukraine. ING maintains that it is in close contact with those colleagues.

JP Morgan:  

  • JP Morgan is another US investment bank that’s leaving the Russian market. A company spokesperson stated that JP Morgan was “actively unwinding Russian business” and “[has] not been pursuing any new business in Russia.”
  • JP Morgan’s March 10th announcement highlighted that the company’s activities are “limited” in Russia. According to the statement, JP Morgan’s activities in the region include “helping global clients address and close out pre-existing obligations; managing their Russian-related risk; acting as a custodian to our clients; and taking care of our employees.”
  • JP Morgan had previously announced up to $5 million in donations for Ukraine relief organizations in a March 8th address.

London Stock Exchange Group

  • On March 3rd, the London Stock Exchange (LSE) Group temporarily barred trading in 27 Russian-linked companies, including Gazprom, Sberbank, and Lukoil.
  • Severstal is another major Russian company that’s blocked by the LSE. Russia’s richest man, Alexei Mordashov, owns the steel and mining corporation.
  • According to Reuters, LSE blocked any remaining Russian companies on March 4th “in order to maintain orderly markets.”

Visa

  • Visa Inc. Chairman Al Kelly said: “We are compelled to act following Russia’s unprovoked invasion of Ukraine, and the unacceptable events that we have witnessed,” in a statement on March 5th.
  • Visa announced it was pausing its services in Russia, including restricting Visa transactions in the nation. Russian-issued Visa cards no longer work outside of Russia, and Visa cards issued elsewhere won’t work within Russia.  “This war and the ongoing threat to peace and stability demand we respond in line with our values.”
  • Visa is also providing a $2 million grant to UNICEF, and double-matching employees’ charitable contributions up to $1 million.

Mastercard

  • In a press release on March 5th, Mastercard stated that it would halt support for Russian-issued cards, wherever they are used. Meanwhile, non-Russian Mastercards will no longer work with Russian merchants or ATMs.
  • Mastercard also highlighted its work helping affected employees and a $2 million donation to humanitarian relief organizations.
  • The company added that it wants to assist governments “to ensure the safety and security of the global payments ecosystem” while expressing a desire to one day “restore operations.”

Other Financial Companies Taking Action

  • Allianz is actively reducing its exposure to the Russian market 143
  • Adenza paused Russian business 144
  • Asian Infrastructure Investment Bank curtailed Russian access to capital markets 145
  • Assicurazioni Generali exited the Russian market completely 146
  • Bank of China diminished Russian access to capital markets 147
  • BlackRock reduced Russian access to capital markets 148
  • BNP Paribas curtailed access to capital markets for Russian entities149
  • Citi announced a phased exit from Russia 150
  • Commerzbank stopped new business in Russia and is winding down current transactions 151
  • Credit Suisse curtailed Russia’s access to capital markets 152
  • Deloitte exited the Russian market 153
  • Deutsche Bank is closing Russian business 154
  • EY exited its Russian operation 155
  • Fitch paused Russian business 156
  • HSBC reduced Russia’s access to capital markets 157
  • ICBC cut access to capital markets for Russian entities 158
  • Intercontinental Exchange diminished Russian access to capital markets 159
  • Moody’s suspended Russian operations 160
  • Nasdaq curtailed access to capital markets for Russian entities 161
  • New Development Bank halted Russia’s access to capital markets 162
  • Payoneer closed Russian accounts 163
  • PayPal suspended Russian business operations 164
  • Rabobank diminished Russian access to capital markets 165
  • Remitly Global blocked access for new users in Russia 166
  • S&P cut Russia’s access to capital markets 167
  • Societe Generale curtailed access to capital markets for Russian entities 168
  • State Street curbed Russia’s access to capital markets 169
  • Western Union suspended Russian business 170
  • Wise PLC paused its Russian partnership 171
  • The World Federation of Exchanges suspended its Russian members and affiliates 172

View full list of companies leaving or boycotting Russia due to the invasion of Ukraine --> here


NCFA Jan 2018 resize - Multinational Companies Who left Russia and Ones that Decided to StayThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Business Review Writing Assistance: Free or Paid

Guest Post | May 24, 2022

Content generation writing tools - Business Review Writing Assistance: Free or Paid

Source: Unsplash

Getting a business review running might be exhausting enough. But there comes also a part when you need to write things down for your presentation, which is an additional challenge. To alleviate this task for you, we have compiled a list of the best online tools for writing business reviews. Some of them are free and some expect you to invest your finances in your writing assistance tool. Check them out and make your decision on which type of writing assistant is the best for your business reviews.

Free writing tools

Grammarly

This invaluable tool comes in handy for any type of written work. You can install it as a desktop app, or browser add-on, integrate it into Word, or access the tool directly on the Grammarly website. It checks your grammar and suggests a better way to put your sentences without sounding wordy. Running your text through Grammarly or a similar grammar-checking tool is a must for any professional document. Even if you feel confident about your writing skills, there is still a possibility to misspell a word or use a wrong article. Grammarly will catch these for free and even suggest you a proper writing tone.

Zoho

This free-to-use writing tool is very similar to Google Docs, but has several advantages over it:

  • An internet connection failure won’t interrupt your work because the tool fluently switches between online and offline modes.
  • You can easily share your document with your teammates and overview the workflow from a dashboard that collects progress info on the team’s writing.
  • Zoho has its own free grammar checker that would help you catch errors and suggest a better writing tone for your specific goal.

You can get this tool working on any browser, Android or IOS. The only downside of it is an outdated interface that you’ll need to get used to.

ShortlyAI

This marvel of engineering literally writes text for you. All you need to do is to write the first sentence, and the AI will continue your thought indefinitely. It may sound like cheating, but it really does its work well. You can direct the AI by typing a command that would make it rephrase or expand a paragraph. ShortlyAI is a great tool for writing speeches or filling your presentation points with clarification. The tool is free, but there is a premium plan that could be paid per month or annually with the first two months for free.

Paid writing tools

Jasper

This superb tool is costly but has a range of features that easily put it above all others. Jasper is a writing assistant that can generate text that would sound genuine, and do it in more than 25 languages. Its interface is intuitive and works on any platform - computer or mobile. Use it to make your business reviews sound professional and clear.

Writer

This assistant works similarly to Grammarly but has some additional features. The main appeal of this tool is its team-oriented work. You can use it to create a solid voice for your company across your employees. If you are seeking to make your presentations and business reviews sound unique and consistent across the workspace, the Writer tool is for you. It catches grammar mistakes and helps to break up unclear sentences. You can install it as an add-on to MS Word, or open an online Writer editor. There is a free month trial that follows by an affordable paid subscription.

ProWritingAid

This grammar checker is a blessing for all who struggle with enriching their texts with synonyms. You can get it for free as a Chrome extension, but the full editor is available only to those who are ready to pay its steep price. Nevertheless, you will get a professional editing tool that you could integrate into just about any office writing app. ProWritingAid will not only point out your writing mistakes but also will level up your general literary skills by serving as a writing coach.

Outranking

Is a text-generating tool that would guide you through the entire process. It has an invaluable feature of generating titles, outlines and meta descriptions, and other things that essay writers usually have to do manually. Of course, only human effort can provide the best titles.

Bottom line

Writing assistance tools can be beneficial for your business reviews for many reasons. Use them for brainstorming ideas for your presentation, writing an intro, or conclusions, and generating memorable headlines. Writing tools can significantly improve your business report, and using a grammar check should be a prerequisite for any writing work. You can install them as business apps on your phone or as extensions to the computer programs that would always assist you while you write. The key decision here is whether you want a free tool, or would like to invest money in order to make your business reviews sound more professional.


NCFA Jan 2018 resize - Business Review Writing Assistance: Free or PaidThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Canada’s Tech Adoption is Declining Compared to OECD Peers

Centre for Future Work | Jim Stanford | May 24, 2022

Business investment in RD Canada - Canada's Tech Adoption is Declining Compared to OECD PeersThere is little evidence that robots and other advanced technologies are displacing workers and causing technological unemployment in Canada. To the contrary, Canada’s adoption of new technology has surprisingly slowed down in recent years. That is the conclusion of a major new report on innovation and automation in Canada’s economy, from the Centre for Future Work.

The report, titled Where are the Robots?, reviews nine empirical indicators of Canadian innovation, technology adoption, and robotization. They paint a worrisome picture that Canadian businesses have dramatically reduced their innovation effort since the turn of the century, and are lagging well behind other industrial countries in putting new technology to work in the real economy.

See:  AI Will Transform 500 Million White-Collar Jobs In 5 Years; Silicon Valley Must Help

While there is no evidence that the quantity of jobs in Canada has been undermined by new technology, there are many signs that the composition and quality of work has shifted in negative ways.

“The failure of employers to implement new technologies is causing an over-reliance on low-quality work, holding back our productivity and incomes, and squandering the potential for safer jobs and more leisure time.”

The report makes 6 policy recommendations to improve innovation and technology adoption in Canada, including reforming fiscal incentives, expanding publicly-funded R&D, nurturing industries that use more robots and machinery, and giving workers more say in how technological change is implemented in workplaces.

See:

Jim Stanford, Economist and Director of the Centre for Future Work:

“Technology will be neither the hero nor the villain in the future of work – it all depends how technology is used, and how the costs and benefits are shared. But the reality is that Canada’s technological performance is flagging, fast. Revitalizing technological innovation and adoption, and ensuring that it enhances jobs not displaces workers, is vital to our future economic and social progress.”

Continue to the full article --> here


NCFA Jan 2018 resize - Canada's Tech Adoption is Declining Compared to OECD PeersThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Galloway: Chrome has spread globally and controls 64% of the global browser market

Scott Galloway | May 24, 2022

global internet browsers - Galloway:  Chrome has spread globally and controls 64% of the global browser market

By far, Google Chrome is the most popular browser in the world

 

 


NCFA Jan 2018 resize - Galloway:  Chrome has spread globally and controls 64% of the global browser marketThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Multiple Payment Methods – Why is it Fundamental to E-Commerce Success?

Guest Post | May 24, 2022

ecommerce - Multiple Payment Methods – Why is it Fundamental to E-Commerce Success?

Introduction

We know for a fact that digitalization has taken over the world. As a result, digital payment usage is booming like never before. These days, there are plenty of payment options available. Whether it be getting salaries, purchasing something, or ordering food, most of the population is interested in digital payment, thanks to the seamless deposits and withdrawals.

With this growth and flexibility in payment methods, businesses need to keep up with the trend and expand their payment options. Otherwise, they might lose a large demographic for insufficient payment facilities and eventually face devastating business loss.

How Multiple Payment Options Generate More Revenue?

With huge diversity among customers, payment preference is bound to vary. Therefore, multiple payment methods in e-commerce can lead to an increase in revenue. Lack of options in payment can cost you losing potential customers.

On average, 70% of customers abandon their cart on e-commerce sites. Among them, 8% do so due to the lack of payment options, and the percentage is 42% in the US. This percentage can be crucial for many businesses. Building trust with the customers and providing them with what they want is essential to achieving e-commerce success.

1. Attracts Diverse Customers

E-commerce sites are dynamic these days to reach out to a larger target audience. As many people are becoming interested in e-commerce as customers, the diversity in payment methods is also evident. However, if e-commerce businesses cannot satisfy the payment need of the larger audience, then there will be no progress.

For instance, a computer user can be comfortable using the debit/credit card method on an e-commerce site. The site might be dynamic and catered to suit the needs of mobile users as well. However, a mobile user might be comfortable paying on mobile banking, but if they do not get the mobile payment option at the check-out, they are more likely to abandon their cart.

To satisfy the needs of customers who are comfortable with varying payment methods, multiple payment options in e-commerce are necessary. A survey among US consumers shows that 26% are not willing to adopt a new payment method.

2. Convenient for Customers

More options are more convenient for customers. They might be using several payment methods, and when they find all of their desired choices, they are more eager to purchase. Then again, if customers are having some issues with one payment method, they can use another one.

Otherwise, they will just leave the website without making any purchase. Options are payment methods that decrease the dependency on a particular payment method. Therefore, for more conversion, multiple payments are a must.

Customers want a fast and easy transaction. If easier options are not available, customers feel less interested. About 58% of US customers stop at the check-out process due to the complications in the check-out. This is more than half the customers, which means the effects can be drastic for a business.

3. Keeping Up with Competitors

The e-commerce world has become incredibly competitive. Unless a business adapts to the latest requirements of customers, it will fall behind in the competition. There is no denying that one of the key requirements in e-commerce these days is options for payment.

See:  UK Proposes Regulations That Would Recognize Stablecoins As A Form Of Payment

To engage with customers and generate sales, a business has to understand the needs of their customers, especially with payments. Ultimately, a company will be successful once the customer pays for a product. Eventually, the business will flourish and go ahead of its competitors.

4. Better Tracking System

Gaining customers' trust by providing a secure and hassle-free payment method is essential for the growth of a business. These payment methods are transparent, easy to get a solution when some problem occurs, and easy to get refunds. Different people can find other payment options safer and easier. Therefore, there is no alternative to having multiple options to satisfy a larger demographic.

Different Types of Payment Methods

Multiple payment options are a must for e-commerce success. However, with thousands of options available, a business cannot offer all of them. The key is to offer the most popular payment methods from each category. Then again, not all payment options will be suited for your business.

The variety of payment methods available these days can be divided into four categories. They are as follows.

  • Cash Payment: The good old cash payment is still available in many cases. This method is used for food-delivery services, ride-sharing services, etc. Although, this method is becoming obsolete in the e-commerce sector.
  • Credit/Debit Card: Paying with a debit or credit card is considered the traditional way of payment. This option is a reliable and often used one by many customers.
  • Internet Banking: Many banks have their own banking system that can be accessed through electronic devices, such as computers or mobile phones. Internet banking is also quite popular for making payments for e-commerce sites.
  • Digital Wallets: Digital wallets or e-wallets store your information securely and allow hassle-free financial transactions. You do not need to insert your information every time you purchase something. Paypal, Apple Pay, and Goggle Pay are a few of the popular digital wallets.
  • Mobile Apps: Mobile payment allows you to pay through an app on your phone. You need to install and provide the necessary information to the app, and then you can use it to make payments.
  • Buy Now Pay Later (BNPL): This payment method is fairly new. This is like an installment where you get products and make the payment gradually.
  • Cryptocurrency: Bitcoin, Solana, Ethereum, etc., are some of the popular cryptocurrencies. In some specific e-commerce sectors, cryptocurrencies can be used as a method of payment.

To Conclude

Undeniably, different payment methods in any e-commerce make more customers purchase. Also, they are more likely to become loyal customers. This increases revenue. Therefore, multiple payment methods are crucial for e-commerce success. Hence, provide your consumers with multiple payment options and witness it having a positive impact on the revenue of your business.

 


NCFA Jan 2018 resize - Multiple Payment Methods – Why is it Fundamental to E-Commerce Success?The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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NCFA Summer Kickoff Jul 14 2022 800 - Multiple Payment Methods – Why is it Fundamental to E-Commerce Success?